SEATTLE, June 10, 2021, (MEDGADGET) — The Global Artificial Intelligence in Healthcare Market, By Solution (Hardware and Software & Services), By Technology (Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, and Context-Aware Processing), By Application (Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, Insights & Risk Analytics, Wearables, Virtual Assistants, and Others), By End User (Hospitals, Pharmaceutical Organizations, Diagnostic Centers, and Clinics), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 714.4 million in 2016 and is projected to exhibit a CAGR of 56.2% over the forecast period (2017–2025).
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Artificial Intelligence (AI) can track a virus by analyzing news reports, social media platforms, and government documents, in order to detect an outbreak. Therefore, increasing outbreak of infectious diseases is expected to propel growth of the global artificial intelligence in healthcare market over the forecast period. For instance, as of February 23, 2020, there were 76,936 reported cases of in mainland China and 1,875 cases of coronavirus disease 2019 in locations outside mainland China and the number of associated deaths was 2,462. Moreover, increasing investment in AI technologies is also expected to aid in growth of the market. For instance, in September 2017, Deep Genomics, Inc. raised US$ 13 million to develop genetic medicines by using AI technology. Similarly, in 2016, Oncora Medical raised US$ 1.2 million to develop its radiation oncology platform using AI.
Adoption of AI in drug discovery is expected to boost growth of the global artificial intelligence in healthcare market over the forecast period. For instance, in April 2017, Atomwise, Inc. launched a research program to accelerate drug discovery by using AI. Moreover, adoption of AI in healthcare management is also expected to aid in growth of the market. For instance, in December 2017, Hitachi, Ltd, in collaboration with Partners Connected Health, developed an AI technology that can predict the risk of hospital readmissions within 30 days for patients with heart failure.
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Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in 2017, NVIDIA Corporation partnered with GE Healthcare and Nuance to integrate NVIDIA’s deep learning platform with GE Healthcare medical imaging devices. Similarly, in 2017, IBM Corporation partnered with University of California and Massachusetts Institute of Technology in order to enhance quality of life through AI and CJ Healthcare Corporation — a South Korea-based company — partnered with Syntekabio, Inc. to co-develop a new anticancer immunotherapy using an artificial intelligence model.
Major players in the market are also focused on approval and launch of new products. For instance, in January 2018, ExcelMedical received the U.S. Food & Drug Administration (FDA) approval for Wave Clinical Platform, which can predict sudden heart attacks and respiratory failure based on patient’s vitals. Similarly, in January 2018, CLEW Medical and Viz.ai, Israel-based startups, launched predictive analytics platform and direct-to-intervention system to automatically analyze brain CTs, respectively, and Seegene, Inc. announced development of molecular diagnostic assays by using AI-based assay development system.
Browse 34 Market Data Tables and 43 Figures spread through 200 Pages and in-depth TOC on Artificial Intelligence in Healthcare Market by solution (hardware, software & services), by technology (speech recognition, querying method, natural language processing, machine learning, and context aware processing), by application (imaging & diagnostics, drug discovery, lifestyle management & monitoring, emergency room & hospital management, insights & risk analytics, wearables, virtual assistants, and others), by end user (hospitals, pharmaceutical organizations, diagnostic centers, and clinics) and region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2025.
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Key Takeaways
- The global artificial intelligence in healthcare market is expected to exhibit a CAGR of 56.2% over the forecast period
- Increasing outbreak of infectious diseases to augment growth of the global artificial intelligence in healthcare market over the forecast period
- Adoption of AI in drug discovery is also expected to boost growth of the market
- Major players operating in the global artificial intelligence in healthcare market include, IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, iCarbonX, Next IT Corp., CloudMex Inc., Atomwise Inc., Zephyr Health Inc., Medtronic Plc., Koninkiljke Philips N.V., and Oncora Medical, Inc.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Products and Services
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Artificial Intelligence in Cancer Diagnosis
- Artificial Intelligence (AI) In Different Healthcare Segment
- Product Mapping
- Strategic Partnerships & Collaborations
- Regulatory Scenario
- PEST Analysis
- Artificial Intelligence in Healthcare Market – Impact of Coronavirus (Covid-19) Pandemic
- Impact Of Covid-19 on Artificial Intelligence In Healthcare Market
- Strategies
- New Developments
- Global Artificial Intelligence in Healthcare Market, By Products & Services, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Software & Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Artificial Intelligence in Healthcare Market, By Technology, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Speech Recognition
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Natural Language Processing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Machine Learning
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Context Aware Processing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Artificial Intelligence in Healthcare Market, By Application, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Imaging & Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Home Health
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Medical Device and Robotics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Virtual Assistants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Artificial Intelligence in Healthcare Market, By End User, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hospitals & Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Medical Device Companies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Diagnostic Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Artificial Intelligence in Healthcare Market, By Region, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, By Region, 2017 – 2027
- Regional Trends
- North America
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
- China
- Japan
- India
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Products and Services, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Technology, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Million)
- North Africa
- Central Africa
- South Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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